Kazakhstan is improving its investment climate
Kazakhstan is consistently improving its investment climate. Macroeconomic stability, preferences and well-developed infrastructure and transport system attracts foreign businesses. Nargis Kassenova, a Senior Fellow at a Program on Central Asia of Harvard Davis Center for Russian and Eurasian Studies highlighted that cooperation with the Organization for Economic Cooperation and Development is contributing to the investment development in Kazakhstan.
NARGIS KASSENOVA, DOCTOR OF POLITICAL SCIENCES:
- Kazakhstan is a large country with a growing and developing economy. Kazakhstan’s geostrategic location is beneficial as our country is right in the middle which is important. Kazakhstan is the link that connects China and other Asian countries with Europe. I believe that our cooperation with the OECD is very important as it will help us move on.
Kazakhstan’s regions are enhancing their investment attractiveness. According to potential investors, Aktobe region has rich mineral resources, well-developed production sector and good logistics opportunities.
According to Italian Ambassador to Kazakhstan Pasquale D’Avino, Italian businessmen are ready to attract their advanced technologies and support local content.
Foreign entrepreneurs see great opportunities in Southern Kazakhstan as well. Foreign investors are set to invest in a number of large projects in Shymkent, such as the construction of a textile factory, office buildings and a new park in Shymkent City.
GABIDULLA ABDRAKHIMOV, MAYOR OF SHYMKENT:
- Since the beginning of the year, we attracted KZT 524 billion of fixed capital investments in the city, which is almost three times higher than last year. We are currently leading in Kazakhstan in terms of investment attraction.
Experts say that Kazakhstan needs strategic partners to implement ambitious plans, diversify the economy and develop priority sectors. To attract foreign investors with high-tech technologies and expertise, Kazakhstan needs to further improve the regulatory framework, develop infrastructure and improve support measures. Kazakhstan made significant progress in implementing its plans, which can be confirmed by the country’s position in the World Bank's Doing Business ranking, where Kazakhstan is ranked 28th.